Dan Vasella: It is good to look at how we could be better.
Novartis CEO Dan Vasella says, “Teva is better than we are, and that’s hard to take.” He made the comment on "The Wall Street Journal's" Health Blog. He added that the Israeli generics shop is bigger, with more vertical integration, and has been outpacing Novartis’s generic unit on key measures of success in the business. He claimed to see a silver lining in the situation: “It is good to look at how we could be better,” he said.
Novartis AG (NYSE:NVS; LSE: NOV; SWX: NOVZ) unit Sandoz is the world's second largest generic drug company after Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA). Swiss-based Novartis has a market cap of $118 billion, compared with $33 billion for Teva.
Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2008
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